Marginal Utility

question 251

Multiple Choice

Marginal utility

• A) characterizes things of little use.
• B) is the additional utility derived from the last unit of a good consumed.
• C) is an implication of the law of demand.
• D) is always negative when total utility is positive and positive when total utility is negative.

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Definitions:

Macrosociology

The study of large-scale societal structures and processes, focusing on social systems and populations at a high level of abstraction.

Theoretical Perspectives

Frameworks or sets of ideas through which social phenomena are analyzed and interpreted.

Theorist

An individual who formulates theories or is versed in the development of abstract models of understanding specific phenomena.

Postmodern Social Theory

An approach in sociology that challenges grand narratives and fixed truths, emphasizing the complex, fragmented, and ever-changing nature of social reality.